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What are the Best Ways to Keep My Home Insurance Premiums from Increasing?
Oct 17, 2019
There are several things you can do to minimize your home insurance costs.
The factors for New York State home insurance rating are less under the control of the insured than they are for auto insurance.
Some of the significant factors influencing your homeowners insurance rates include:
- Construction type - IE: Frame buildings rate higher than masonry.
- Year of construction - Newer homes share lower premiums.
- Proximity to fire protection - Homes near hydrants and fire departments pay less than those in outlying rural areas.
- Susceptibility to catastrophic losses - Areas susceptible to hurricanes, tornadoes, and wildfires, etc. will pay higher premiums.
- Your location’s loss history - If your current home has had prior losses, the past can follow a new buyer. Also, an area that has had a history of problems with arson, vandalism, or other types of losses will be negatively reflected in rates.
- Updates to utilities - Updates to the roof, plumbing, electrical and heating systems may help reduce premiums with some programs.
- Your credit/insurance score - Yep. Responsible use of credit can improve your insurance score and positively impact your insurance rates
- Bundling - Writing your auto and home insurance with the same company can result in significant savings for both lines of insurance.
- Shop - Shopping for home insurance is similar to the process of shopping for auto insurance. An Independent insurance agent offers options from multiple companies and may be your best opportunity to find the best fit for your situation.
If you have additional questions about how to save money on your New York State homeowners insurance premiums please feel welcome to call us at 607-324-7500. Or, if you are not a current client, you can request a quote from our agency right online here: https://www.ryanagency.com/request-a-quote
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